Rent vs Buy in Bismarck, ND
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Bismarck, ND
Price-to-rent ratio is 30.8 (under 15 favors buying, over 21 favors renting). Renting costs $1,023/mo; owning runs about $2,793/mo — $1,770/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $1,973 |
| Property tax | $347 |
| Home insurance | $158 |
| Maintenance | $315 |
| Total to own | $2,793 |
| Average 2BR rent | $1,023 |
Based on a median home value of $378,396 with a $75,679 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.